Questions tagged [canada]

For questions that relate to the financial laws, practices, and products of Canada.

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217 views

Why's it hard to claim losses on Canadian shares as business losses in the future?

Tax Planning for You and Your Family 2019 by KPMG. p 100. If you wish to ensure that your trades on the stock market will always result in capital gains rather than business income, you may file ...
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44 views

What's the “tax refund on RRSP contribution”?

Dan Brtolotti CFP CIM B.A. English University of Waterloo - St. Jerome's University wrote this article. I don't fathom third row. RRSP is taxed at withdrawal. Thus how is tax refunded when you deposit ...
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1answer
142 views

Are friends and family discounts or employee discounts taxable?

I recently read this article which says in Canada: "barter transactions are only taxable when the goods or services you're giving up are of the kind generally provided by you in the course of ...
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125 views

Benefits for women in Ontario

Im unemployed i apply for a jobs but not luckly call for an interview yet. I will be separating soon with my husband . I lived in Eastern Ontario near Renfrew. Not much jobs around here i wanted to-...
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1answer
96 views

Efficient Canada investment account after maxing out TFSA that is not RRSP?

What kind of investment accounts in Canada are tax-efficient and allow holding U.S. stocks (Amazon, Google, etc.)? I have maxed out my TFSA, and would prefer not to lock money in retirement-inclined ...
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64 views

How do I find out what are the min and max withholdings from each paycheque?

Gill, Madura. Personal Finance, 4th Canadian Edition 2019. p 86. Emboldenings are mine. Taxes Paid on Earned Income Your income is subject to personal income taxes, which are taxes imposed on income ...
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1answer
121 views

In one year, what's the maximum I can contribute to RRSP, from past unused contribution room?

My dad is 63 and lives in Ontario.. He maxed out his TFSA. His annual pre-tax income is $50K. Here is a screen-shot of his CRA online account: He never opened a RRSP, thus the $100K must've been ...
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3answers
315 views

All my investments goes through the same financial firm. Is that a bad idea?

In the past year, I invested $1k per week in a diversified portfolio through a financial firm. The money belongs to my incorporation. My goal is to invest as much as possible and never use it, ...
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1answer
56 views

Dollar limit for Canada-US income tax treaty?

I heard a rumor that there is a dollar ceiling around $200,000/year above which the Canada-US income tax treaty doesn't apply, or at least changes its behavior. What could that be referring to?
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248 views

Why does DICO insure until $250K, but CDIC until $100K?

This question doesn't duplicate this other that doesn't compare CDIC with DICO. As of Dec 6 2018: DICO [Deposit Insurance Corporation of Ontario] insures deposits up to $250,000. We CDIC insure ...
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35 views

Understanding Put Warrants on SET (Thai) exchange

I have having trouble understanding exactly how these derivative products work. For example this one. I understand that the European exercise style means that they can only be exercised on the ...
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186 views

Can I get a full-time job in Germany but ask the German company to sign contract with my own corporate in Canada instead of myself?

I found a full-time job and I am moving to Germany. I've established a corporate in Canada and did some consultant job through it. Is it possible for the Germany company to sign the contract with my ...
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1answer
318 views

Endorsed cheque [closed]

I am trying to understand the underlying contract of an endorsed cheque a bit better, and would love to know how the liabilities are determined in the following situation: Alice writes a cheque to ...
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749 views

Employer RRSP match vs. contribution limits for recent grad with no RRSP room?

I'm just starting my first job ($55k), which includes an employer RRSP match up to 5% of my income. I only have $500 of RRSP deduction limit for this year as I have never worked before. Can I ...
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1answer
137 views

How do you find an ethical, honest independent insurance broker in Canada?

I live in Toronto. I hope to buy a 20-year Term Life Insurance for my (gullible) mother of age 58 to replace her Permanent Life Insurance (which I believe that the evil insurance agent exploited her ...
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3answers
231 views

What insurance (if any) should a 26 year old without income buy?

Question: Given 4, should my cousin continue with Permanent Life Insurance, change to Term Life, or cease and desist from any insurance? Details: 1. Living in Canada, my healthy cousin is 26 years ...
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1answer
218 views

Can you deduct hobby expenses up to hobby income in Canada?

In the US you're allowed to deduct hobby expenses up to (but not exceeding) income from that hobby as part of your miscellaneous deductions. But I can't find a definitive source on the corresponding ...
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381 views

How much do laddered bond ETFs differ from bond ETFs that bound maturity?

Abbreviate LD BETF as laddered bond ETFs. 'BETFs that bound maturity' are UNladdered but impose a maximum limit on maturity of bonds, which I denote Bound BETF, and abbreviate as BD BETF. This ...
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1answer
100 views

Do health insurance premiums go up as you age?

If I buy private health insurance at the age of 40, and start off with a monthly contribution of 200$ (for example), then does the amount of premium change when I reach 50? Since at 50, my medical ...
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1answer
76 views

What duration bonds are held by the ETF XBB

I am looking at the bond etf XBB. This ETF mostly holds Canada govt bonds. What I don't understand is what is the duration of these bonds held by the fund?
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116 views

Why does the Fidelity Canadian Bond Fund have such a high beta? How is it measured?

I am looking at some Canadian bond funds (recommendations welcome) for my RRSP. Relatively safe, and with a dividend yield ~ 3% is good enough. While looking at Fidelity bond funds, I came across this ...
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2answers
3k views

Advice on money transfer from Canada to South Africa [closed]

I am trying to figure out what is the best way to transfer money from Canada to South Africa. By best way I mean the cheapest way and of course the safest way for me. I have found a few weeks ago ...
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1answer
219 views

Worry about trading High Interest Savings Accounts only by phone?

A friend living in Canada has HSBC InvestDirect Canada as her discount broker, which requires a minimum of $10,000 CAD in the InvestDirect account. She doesn't want $10,000 of cash to lie around ...
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3answers
401 views

When to use visa debit /MC debit

When I open up a regular checking account, I get an ATM/DEBIT card? So what exactly are the pros/cons of using a Visa/MC Debit card over the debit card provided by my bank?
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130 views

Does insurance cover injury playing rec sports

If I get hurt playing recreational soccer after work, will my employer insurance cover my medical/hospital expenses?
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1answer
208 views

How can I correct a mistake on my Credit Score?

I recently just looked at my credit score to try to figure out why I may have been rejected for a credit card. While it is not bad (between 700-725) it is not awesome either. When going through an ...
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2answers
384 views

Get free option quotes

Is there a google or yahoo api that provides option quotes similar to the below for stock quotes? http://www.google.com/finance/getprices?i=60&p=3d&f=d,o,h,l,c,v&df=cpct&q=SPY I am ...
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1answer
3k views

How does Ontario's income surtax differ from simply modifying tax brackets? [closed]

What are the costs and benefits of the income tax surtax in Ontario? Ontario charges a surtax on tax above a certain amount. An overview of the numbers is available at http://www.fin.gov.on.ca/en/...
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1answer
125 views

GST/PST payments considered personal loss

Long story short, five years ago I opened (and became administrator of) a corporation for a friend (he was in bankruptcy). I recently "reacquired control", only to discover no GST was ever paid, no ...
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1answer
44 views

Canada: province of residence on December 31 for emigrants

Page 1 of the Canadian T1 asks, "Enter your province or territory of residence on December 31, 2019." If I emigrated from Canada during 2019, what do I enter, and why? Specifically, are there ...
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1answer
47 views

Filing taxes for Canada after becoming non-resident

I left Canada for SE Asia in January 2020, and this will be first year that I'm filing to the CRA from outside of the country, so there are a few things that are unclear to me. I'll probably talk to ...
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1answer
195 views

How to prevent counter-signing a cheque or cashing it at money mart

I will pay bill by mailing old fashioned cheques in envelop. I heard that if the letter is lost and someone steals the cheque and forges endorsement to pay to himself rather the payee written on the ...
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187 views

Savings Question, how to invest

I have about $20,000 just sitting in a TFSA, I do plan to spend it (on a vehicle) in about 12-16 months, so I don't want to lock it away, is there anything better then the TFSA? I am Canadian.
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1answer
58 views

How can too much clawback tax on OAS benefits be withheld?

Tax Planning for You and Your Family 2019 by KPMG. p 319. 20.3.2 Old Age Security benefits and the OAS clawback OAS benefits are a taxable pension available at age 65. Unlike CPP/QPP ...
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1answer
67 views

In Canada, do Deposit Institutions pay interest on weekends?

I'm Ontarian. Yes or no for Chequing accounts? Savings accounts? Assume withdrawal can be delayed. If the answer is yes, then smarter to withdraw money on Monday 12:01 AM rather than Friday, right? ...
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2answers
679 views

Best/Least expensive way to cash a Canadian check in the US?

I live in the US, and I recently took a vacation in Canada. My flight home was oversold, and I was stuck at the airport for several hours. The airline is required to send me a check for 2400 Canadian ...
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1answer
74 views

Do I have to pay taxes on external savings?

I am thinking on moving to Canada to work, save for retirement, and move back to Portugal due to the lower cost of living to live my retirement. I will contribute to the Canada Pension Plan and also ...
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1answer
32 views

Tax on foreign income paid the year after

I was a self employee and worked for company in Oct 2017 in France, but only received the salary the year after, Jan 2018. It was my only foreign income. I didn't count it for 2017 as I thought I ...
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1answer
118 views

Credit Utilization and Score. Early re-payment

I feel like this may result in the same unanswered question but I'm gonna ask it anyway just in case we can get a definitive answer. Does paying off your credit card (before a statement is generated) ...
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1answer
312 views

How does a pre-approved credit card offer, affect the probability of actual approval?

Facts My cousin in high school has ≤ $500 in her HSBC Canada accounts, and has never had any income or job. She has had only 1 Secured Credit Card with a $300 limit. She spends ≤ $90/month, and ...
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1answer
148 views

Tax Questions for Internship on TN Visa. Should I fill out Form 8843?

I worked for 4 months at an internship in Massachusetts in the summer of 2016. I'm a Canadian citizen and resident and have a few questions below. For background, I don't pass the substantial ...
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2answers
124 views

Can't find my deceased mother's taxes BC Canada

My mother is recently deceased and I have officially finished tearing through her things. I found a filing cabinet that SHOULD have had her taxes in, and a fire safe that also should have had them in,...
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1answer
23 views

Where can I find articles of incorporation for Canadian financial institutions?

Search for a Federal Corporation does not have financial companies. A list of financial companies is given here.
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1answer
159 views

How to start earning at an early age (in your teens)? [closed]

With lots of business opportunities coming up in the market, what would be the best one to adopt in order to earn some quick and safe money?
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1answer
121 views

What are the risks involved with a Bridge Loan? [duplicate]

We are buying and selling a house. Our new house closes one day before our current house closes, therefore we require a bridge loan to make the down payment. I would like to understand the risks ...
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1answer
72 views

What is Deutsche Bank “Free Order”?

Want to transfer Canadian dollars to German DB bank in without converting to Euro. Idea is to wait with the exchange till the time when exchange rate is more favorable to Canadian dollars. I was told ...
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2answers
111 views

Car finance (loan) insurance requirements (store car)

There are current attractive incentives on new car purchase such as 48 months at zero interest and some advertised discount and perks in addition. My question has to do with mandatory insurance on ...
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1answer
174 views

How to save on taxes due on a lump sum pension payment

Upon resigning from a company, if employer offers a lump sum pension payment of 100k, what are some ways to save on tax on this 100k? Assuming this 100k, is the only income that year, the RRSP room is ...
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1answer
142 views

Canadian tax treatment on international property sale and transfer of proceeds

I am a Canadian citizen. I have a small property from my country of origin. The value is less than CAD$100,000. If I sell my property and transfer the money to Canada, is there a tax payment ...
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1answer
730 views

PR Canadian working remotely to a US company

I am a Permanent Resident in Canada doing remote work for a company in the US. How would I get paid, and what are the required documents from me and from the company in the US so all can be legal? ...